The Global Turpentine Derivatives Market Is Expected to Grow to USD 1,469.43 Million in 2025 as Consumption Upgrades Boost the Industry


Turpentine, a kind of essential oil, is an important industrial raw material.  Turpentine is a liquid extracted from the turpentine of coniferous plants by distillation or other methods. It is mainly composed of terpenes.  Turpentine can be mixed with chloroform, ether or acetic acid in any proportion, but is insoluble in water.  Turpentine is a flammable liquid with a high flash point. It is volatile and will produce a lot of smoke when it burns.  Turpentine fresh from the factory is a colorless liquid with a special odor. Storage for a long time or exposure to air will lead to a gradual yellowing of the color and increase the odor.  Turpentine is a renewable resource that is widely used worldwide. 

Common turpentine derivatives include camphor, zene, terpineol, pine oil, pinene and terpene resins.  Among them, the largest output, in the market share of the highest is camphor. In 2019, the revenue of the global camphor market reached $349.42, accounting for 28.88% of the market;  Pinene, with revenue of $136.23 million, accounted for 11.26%;  While terpene resins accounted for 10.07% share with revenues of $121.84 million, making it the third largest segment in the turpentine derivatives industry.  However, other sub-segments such as zene, terpineol and pine oil accounted for 8.37%, 9.71% and 9.05% of the market revenue in 2019, respectively.



Turpentine derivatives market and dynamic analysis of major companies in various regions of the world 

Globally, Asia-Pacific is the largest turpentine derivatives market in the world by revenue. In 2019, Asia-Pacific turpentine derivatives market revenue was $450.95 million, accounting for 37.45% of the global market share.  Europe was second with 27.61% share and $335.88 million in revenue.  North America is the third largest market by revenue, accounting for 26.59% share with $322.94 million in 2019;  South America and Middle East & Africa accounted for only 4.90% and 3.45%, respectively. 

From the perspective of the Chinese market, the production of turpentine in China accounts for about 75% of the world\'s total, mainly produced in Fujian, Yunnan, Guangdong, Guangxi and Jiangxi.  Camphor and

camphene accounted for 26% of turpentine derivatives, followed by terpineol and terpineol (23%), pinene (19%), synthetic fragrances (14%), terpene resins (11%), and borneol (5%).  Our country produces 2% turpentine oil for export.  China began to produce turpentine derivatives in the 1950s, with some development in the 1980s and the real big development after 2000.  Today, about 400,000 people are employed in the cultivation and production of turpentine. 

Firmenich completed its acquisition of DRT in May ,2020.  DRT is a world leader in the development and supply of high-quality, renewable and natural ingredients, and this acquisition will establish Firmenich as a significant player in the field of perfumes and other renewable ingredients.  Founded in 1932 and headquartered in Dax, France, DRT has for decades developed a unique integrated business model that includes access to sustainable raw materials, best-in-class extraction and distillation capabilities, and advanced innovative processes.  With a turnover of more than 550 million euros, DRT employs more than 1,500 people around the world and operates globally with four production sites in France, the United States, India and China.  DRT will further strengthen Firmenich\'s already leading perfumes and ingredients business, enabling the company to offer its customers the world\'s best selection of renewable and sustainable ingredients.  DRT will also bring new capabilities in health and nutrition, cosmetics, and many new markets including adhesives, coatings, and agriculture.  The acquisition strengthens Firmenich\'s presence in France, its second-largest market.

Get complete sample,please click: https://www.globalmarketmonitor.com/reports/1229202-turpentine-derivatives-market-report.html


Analysis of future development trend of turpentine derivatives  

According to the data, the total market revenue of the global turpentine derivatives industry was $969.24 million in 2015, and has been increasing year by year since then, reaching $1210.07 million in 2019, registering a compound annual growth rate (CAGR) of 5.70% from 2015 to 2019.  In recent years, with the improvement of people\'s income level and consumption ability, their demand for the beauty of appearance is increasing, and the demand for beauty is also increasing, especially in economically developed areas, people\'s life concept is more and more exquisite, and young women\'s demand for beauty is rising rapidly.  All these promote the rapid growth of the revenue of the downstream cosmetics and skin care products market of turpentine derivatives, and the proportion of the market continues to increase, ultimately driving the demand for turpentine derivatives.  Accordingly, the global turpentine derivatives market is projected to continue to grow in revenue plus over the next few years, with the total industry market revenue projected to reach $1,469.43 million by 2025, registering a CAGR of 3.18% from 2019 to 2025.  In addition, consumption upgrading has boosted industrial development and oligopoly structure has improved industrial efficiency, so the future of the industry is highly certain and there is a lot of room for growth.  
However, turpentine derivative downstream chemical industry has strong cyclical properties, and the company performance fluctuates greatly.  Manufacturers\' use of the product has been limited by the heavy investment required in the distillation process, and turpentine prices have plummeted.  On the other hand, the expansion of new categories and new brands is not expected, and these factors have brought certain limitations to the development of the industry.

Get complete sample,please click: https://www.globalmarketmonitor.com/reports/1229202-turpentine-derivatives-market-report.html


Beyond Consulting, Future is Feasible

We provide more professional and intelligent market reports to complement your business decisions.